The retail industry is evolving rapidly since the emergence of the digital revolution. Within a decade it has witnessed some remarkable innovations due to the increased involvement of technology and the disruption caused by the same in the market. In 2018 online purchases grew by more than 13% to $27.5B and now make-up 10% of total retail spend. * This growth was driven by a consumer thirst for online and mobile sales events, the continued rise of Buy- Now-Pay-Later, e-Marketplace and mobile shopping. All these igniting the growth of innovation and technology in e-Retailing and the evolution of payment services.
Over the years, the number of players in the e-Payment market has grown aggressively, and the competition has led to the quality of solutions and services to another level. Aside from that, the changes in consumers’ purchasing behaviour and increasing of their expectation leading them looking for a much secure and seamless payment experience. While some enterprises are struggling to understand the requirements and ways to fulfil in their eBusiness. AsiaPay as the leading payment solutions and technology provider in the Asia Pacific able to offer its customizable, integrated, secure, advanced and reliable e- Payment solution which fit various types of businesses and industries. Founded in the year 2000, the company not just providing its services to retailers’ eCommerce businesses as Payment Solutions providers (PSPs), with its partnerships and networks with over 100 banks in over Asia, it’s also providing its solutions and technology to banks and other PSPs. AsiaPay offers its award-winning omni-channel payment solutions and platform, PayDollar to its merchants which enable their eBusiness with multicurrency, multi-lingual, multi-card and multi-channel, along with its advanced fraud detection and management solutions. AsiaPay aims to bring fast, advanced, secure and convenient cashless transactions all over the world.
Through AsiaPay, merchants are able to provide a seamless shopping and payment experience to their customers with various payment options and methods and completing their e- Purchases in a secured platform. AsiaPay’s payment platform is embedded with a multi-layered security system, offering retailers and consumers with high security and fraud-free cashless transactions through 3-D Secure authentication system which recognized most of the card issuers worldwide and tokenization services. Merchants can centrally manage all payment processing, settlement and reportings for over 100 banks and alternate payments that AsiaPay covers throughout Asia. Besides that, AsiaPay is also one of the PSPs that granted and certified with PCI-DSS level 1 Certification since 2006. These remain a competent payment enterprise that put convenience and security at the forefront.
Comprehensive Range of Services
There are various merchant suited services AsiaPay has covered in the cashless payments space. This streamlined payment processing is made for both local and international users. AsiaPay’s top-notch services roll out a wide array of payment methods that are ranging from online, mobile and point-of-sale payments. Over the last 19 years, AsiaPay has led the global expansion of its accessible costeffective payment processing technology in cross-border regions, namely, Hong Kong, Vietnam, Indonesia, Thailand, Taiwan, China, Philippines, Malaysia, India, Singapore, Japan, New Zealand, and Australia.
The FinTech Expert
Mr. Joseph Chan, Founder, and CEO of AsiaPay is a FinTech expert and pioneer of success in making technologically advanced payments through his company. His influence in the PSP industry flew from being a Hong Kong-based office to numerous countries across the Asia Pacific. His drive towards delivering the consumers their desired payment methods and merchants’ integrated settlements, stands as a key factor on why AsiaPay is built. The award-winning payment solutions that he founded eyes for the future generation’s potential for an integrated omni-channel card and mobilebased financial settlements.
Decades of Insights
Observing how the eCommerce industry works for almost a couple of decades, the company has learned to assess the customers’ pulse correlates to the retailer’s sales. It believes, in order to boost business revenues, one must prioritize the consumers’ demands and keep track of their most purchased items. Through this monitoring business strategy, it allows the target market to have entrusted services from one’s brand. On top of AsiaPay’s streamlined features, the e-Retailing platform is able to reach more potential users over the world, including the support of instalment, loyalty redemption…etc. Further, AsiaPay’s advanced merchant system enables the retailer to keep track of all online transactions across card, netbanking, wallets in one centralized place.
The Journey of an Innovative Idea
There are various winnings and learnings that every business goes through in its initial days. As for AsiaPay, it started as an innovative idea that could change the way people pay for any sort of billing that would consume less time and effort for the payers. However, there are people who not engaging in this change is one of the setbacks that AsiaPay has come across. But with the proper knowledge it has imparted to businesses, the company has made integration and built strong connections with eCommerce and FinTech industries. The organization’s existing key merchants include Retails, Airlines, Hotel, Insurance, Telecommunication, OTA, transportation and others.
Future Aspirations
AsiaPay continues to bring its integrated payment platform to come to a step closer to an envisioned digital society. It proposes a financial status change for all the existing businesses and start-ups towards a cashless based system. The company’s unrivalled 19 years of e-Payments expertise enabling them delivered Omni-payment channel and methods to its international users. According to the company, its payment gateway is a sought-after company in the payments scene which continuously grows as it seeks for further market expansions, build stronger partnerships with its integrated payment features and solutions. AsiaPay will continue to uphold its company’s reputation as the premier payment gateway suited for all types of businesses internationally.
Joseph Chan | Founder & CEO | AsiaPay
